#VietnamCryptoPolicy Legal Recognition: Vietnam has legalized cryptocurrencies through its new Digital Technology Industry Law, which will come into effect in 2026.

No prohibition, but not legal tender: Although cryptocurrencies were not prohibited, they were also not considered a legal means of payment nor were they protected by law as an asset in the past. However, the new law will change this, defining them and establishing a framework.

Focus on Regulation: Since 2017, Vietnam has been working to establish a legal framework for cryptocurrencies.

Testing Mechanism (Sandbox): The Ministry of Finance (MOF) has been developing a legal testing mechanism for cryptocurrencies, which will assess anti-money laundering (AML) protocols and Know Your Customer (KYC). They are also looking to test a crypto-asset trading platform to experiment with exchanges and manage risks.